StockNews.com Begins Coverage on Ampco-Pittsburgh (NYSE:AP)

Research analysts at StockNews.com assumed coverage on shares of Ampco-Pittsburgh (NYSE:AP) in a research note issued to investors on Wednesday. The brokerage set a “hold” rating on the industrial products company’s stock.

Ampco-Pittsburgh Trading Down 0.7 %

Shares of Ampco-Pittsburgh stock opened at $2.27 on Wednesday. The company’s fifty day simple moving average is $2.22 and its 200-day simple moving average is $2.04. The company has a market cap of $45.51 million, a price-to-earnings ratio of -1.00 and a beta of 1.00. The company has a current ratio of 1.99, a quick ratio of 0.98 and a debt-to-equity ratio of 1.57. Ampco-Pittsburgh has a 1 year low of $0.74 and a 1 year high of $2.79.

Ampco-Pittsburgh (NYSE:AP) last issued its earnings results on Wednesday, March 12th. The industrial products company reported $0.16 EPS for the quarter. The firm had revenue of $100.94 million during the quarter. Ampco-Pittsburgh had a negative return on equity of 63.13% and a negative net margin of 10.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AP. Geode Capital Management LLC lifted its holdings in shares of Ampco-Pittsburgh by 38.5% during the third quarter. Geode Capital Management LLC now owns 152,111 shares of the industrial products company’s stock valued at $304,000 after acquiring an additional 42,305 shares during the period. State Street Corp increased its position in Ampco-Pittsburgh by 92.7% in the third quarter. State Street Corp now owns 74,216 shares of the industrial products company’s stock worth $148,000 after purchasing an additional 35,700 shares during the period. Finally, Ameriprise Financial Inc. increased its position in Ampco-Pittsburgh by 0.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,084,403 shares of the industrial products company’s stock worth $2,266,000 after purchasing an additional 5,020 shares during the period. 49.16% of the stock is owned by institutional investors.

About Ampco-Pittsburgh

Ampco-Pittsburgh Corporation, together with its subsidiaries, engages in manufacture and sale of specialty metal products and customized equipment to commercial and industrial users worldwide. The company operates through Forged and Cast Engineered Products (FCEP); and Air and Liquid Processing (ALP) segments.